Updated Dec 4, 2024
Stephen L. Tully Jr. Acquires Development Site In Point Pleasant Beach For $2.65M
546 Main Ave, Point Pleasant Beach, NJ, USA
$2,650,000
$873/SF
Building Size
3,035 SF
Asset Type
Development Site
Closing
Mar 2, 2021
About this deal
AI
The development site located at 546 Main Ave in Point Pleasant Beach has been sold for a price of $2,650,000. The property is situated in a desirable location on Main Ave, making it an attractive investment opportunity.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,650,000
- Buyer: Stephen L. Tully Jr.
Stephen L. Tully Jr. has acquired the property, acting as the buyer in this transaction. The sale marks an important milestone for the development site, providing a significant return on investment for the buyer. This purchase is indicative of the potential growth and development opportunities in Point Pleasant Beach market.
Players
Bay Head Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93